American Century Companies Inc. Decreases Stake in Public Storage (NYSE:PSA)

American Century Companies Inc. trimmed its position in Public Storage (NYSE:PSA - Free Report) by 28.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 833,891 shares of the real estate investment trust's stock after selling 327,632 shares during the period. American Century Companies Inc. owned approximately 0.47% of Public Storage worth $239,869,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of PSA. Gryphon Financial Partners LLC raised its position in shares of Public Storage by 2.5% in the 4th quarter. Gryphon Financial Partners LLC now owns 1,562 shares of the real estate investment trust's stock valued at $476,000 after purchasing an additional 38 shares during the last quarter. Signet Financial Management LLC lifted its stake in shares of Public Storage by 2.1% during the first quarter. Signet Financial Management LLC now owns 1,913 shares of the real estate investment trust's stock worth $555,000 after buying an additional 39 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Public Storage by 0.9% during the second quarter. Assenagon Asset Management S.A. now owns 4,174 shares of the real estate investment trust's stock valued at $1,201,000 after buying an additional 39 shares during the last quarter. Brookstone Capital Management increased its position in shares of Public Storage by 3.4% in the 1st quarter. Brookstone Capital Management now owns 1,222 shares of the real estate investment trust's stock valued at $354,000 after acquiring an additional 40 shares during the period. Finally, Legacy Wealth Asset Management LLC raised its stake in Public Storage by 3.5% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 1,232 shares of the real estate investment trust's stock worth $357,000 after acquiring an additional 42 shares during the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Price Performance

NYSE PSA traded down $0.28 on Thursday, hitting $359.12. The company had a trading volume of 625,810 shares, compared to its average volume of 712,572. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.93 and a quick ratio of 0.93. The company's fifty day moving average price is $318.81 and its 200-day moving average price is $292.36. The company has a market capitalization of $62.85 billion, a PE ratio of 32.62, a PEG ratio of 5.72 and a beta of 0.67. Public Storage has a 12-month low of $233.18 and a 12-month high of $361.23.

Public Storage (NYSE:PSA - Get Free Report) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $2.66 EPS for the quarter, missing analysts' consensus estimates of $4.20 by ($1.54). The company had revenue of $921.70 million for the quarter, compared to analysts' expectations of $1.16 billion. Public Storage had a return on equity of 36.55% and a net margin of 44.88%. The firm's revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $4.28 EPS. As a group, analysts predict that Public Storage will post 16.72 earnings per share for the current year.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a $3.00 dividend. The ex-dividend date is Friday, September 13th. This represents a $12.00 annualized dividend and a dividend yield of 3.34%. Public Storage's dividend payout ratio (DPR) is presently 108.99%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PSA shares. Evercore ISI boosted their price target on Public Storage from $330.00 to $334.00 and gave the company an "in-line" rating in a research note on Wednesday, August 28th. Truist Financial lowered shares of Public Storage from a "buy" rating to a "hold" rating and set a $306.00 price target for the company. in a research report on Thursday, August 1st. Wolfe Research upgraded shares of Public Storage to a "strong-buy" rating in a research note on Wednesday, September 4th. Barclays raised their target price on shares of Public Storage from $327.00 to $374.00 and gave the stock an "overweight" rating in a report on Thursday, August 22nd. Finally, Wells Fargo & Company upped their price target on shares of Public Storage from $310.00 to $320.00 and gave the company an "overweight" rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $326.21.

Public Storage Profile

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.